IDFC First Bank has introduced the Hello Cashback Credit Card. This card is linked to a fixed deposit (FD) and is specially designed for people who want to build their credit history.
The credit limit on the card is equal to the amount kept in the fixed deposit. The bank also offers cashback on payments made using this card.
Cashback on Transactions
With the Hello Cashback Credit Card, users will get:
3% cashback on online transactions up to ₹10,000 per statement cycle
5% cashback on online transactions above ₹10,000
1% cashback on in-store contactless and UPI payments
This cashback is also available on payments made for utilities, education fees, and insurance premiums.
If a user books travel through the IDFC First Bank app, they will receive an additional 1% bonus cashback, with a monthly limit of ₹1,500.
Minimum Fixed Deposit Requirement
To apply for this credit card, a minimum fixed deposit of ₹10,000 is required.
If users want to increase their card limit later, they can do so by increasing the amount of their fixed deposit.
Joining Fee and Annual Charges
The card comes with a joining fee of ₹1,000 and an annual fee of ₹1,000.
However:
If the card is issued by March 31, 2026, no joining fee will be charged.
The bank may waive the annual fee based on the user’s spending in the previous year.
The annual fee will be fully waived for yearly spending up to ₹2 lakh.
Some charges will be waived for spending between ₹1 lakh and ₹2 lakh.
ATM Withdrawal and Other Benefits
The Hello Cashback Credit Card allows users to withdraw money from their linked fixed deposit through ATMs. A 45-day interest-free period is available by paying a small fee.
Other benefits of the card include:
Insurance coverage
Purchase protection
Lost card liability cover
Roadside assistance
1% fuel surcharge waiver
